🏅GOLD - The spring is compressing
Gold continues to decline under resistance control within the range. The price from 1945 forms a small pullback that could touch resistance, but everyone is waiting for a fall in priority.
TA on the high timeframe:
1) The dollar index is in a bullish rebound phase. It is likely that after a small stop, the dollar's rise could continue, in which case the price of gold could fall
2) We see a strong pressure on the market. The sellers are strong enough, gold is not able to go through the resistance
TA on a low timeframe:
1) Price is under resistance area. The nearest high, which might make the market nervous, is around 1967. A false breakout of this area is possible.
2) In the future, judging by the high timeframe, I expect a continuation of the fall with the possibility of breaking through 1939-1940.
3) Now the rebound to the resistance is formed, we watch the price reaction. A false break-through will be a strong signal
Key resistance📈: 1960, 1967
Key support📉: 1950, 1940
TA on the high timeframe:
1) The dollar index is in a bullish rebound phase. It is likely that after a small stop, the dollar's rise could continue, in which case the price of gold could fall
2) We see a strong pressure on the market. The sellers are strong enough, gold is not able to go through the resistance
TA on a low timeframe:
1) Price is under resistance area. The nearest high, which might make the market nervous, is around 1967. A false breakout of this area is possible.
2) In the future, judging by the high timeframe, I expect a continuation of the fall with the possibility of breaking through 1939-1940.
3) Now the rebound to the resistance is formed, we watch the price reaction. A false break-through will be a strong signal
Key resistance📈: 1960, 1967
Key support📉: 1950, 1940
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